Buying a property whether in your home country or abroad is a serious step and when the property is to be a second home there are even more things to think about: why you are investing, whether it is for a holiday home, whether you will use it, whether you will be able to rent it, general maintenance requirements and the costs of these, how long you want to have the property for, what the resale market will be should you want to release the investment etc. We try to offer a balanced opinion and help you realise the best purchase for your particular circumstances.
In Bulgaria to date, non Bulgarian nationals have not been allowed to own land, so it has required investors to form a company in order to facilitate a purchase. There is currently some disagreement as to whether this is still a necessity but we are advising our clients that it is still a requirement until further notice. We can help arrange company formation and the future administration requirements.
We charge 2.5% of the property purchase price to the buyer for arranging the sale, within this fee we also complete the follow up work which is required after the purchase; declaring the new ownership of the property in the municipality and, registering it on the land register where necessary.